Boeing slashes losses as CEO touts ‘our turnaround year’

Financial Performance - Boeing reported a smaller than expected loss of $124 per share, compared to the street's expectation of a $148 loss per share [1] - Revenue exceeded expectations at $2275 billion [2] - Q2 operating margin improved to negative 08%, compared to negative 65% a year ago [2] - Cash burn significantly reduced to $200 million in Q2, a substantial improvement from $433 billion in the previous year [2] - The company is moving back towards positive free cash flow and profitability [3] Business Segments Performance - Commercial airplanes revenue increased by 81% year-over-year [3] - Defense and space revenue increased by 10% year-over-year [3] - Global services revenue increased by 8% year-over-year [3] Challenges and Outlook - Certification for the 737 Max-7 and -10 models is expected to be pushed into next year [4] - Boeing's stock is moving higher due to slashed losses and better-than-expected results, reaching a 52-week high [2][5]